Mitt Romney and Barack Obama explain policies in their second debate. The General Election will take place Tuesday, Nov. 6. / AP photo/David Goldman, File

Written by

K. Maxwell Greenwood

Senior Staff Writer

Months on the campaign trail for President Barack Obama and Republican candidate Mitt Romney will come to a head next Tuesday as millions of Americans flock to their local voting precincts to decide whether the president will receive a second term in Oval Office or if heíll be replaced in the beginning of 2013.

And while both candidates continue to scramble for votes, the polls serve as a reminder that the presidential race is still too close to call, leaving the outcome of the election, once again, for the American people to decide.

Higher education

Obama: President Obama has noted college affordability as the focal point of his policy on higher education. Since taking office in 2009, Obama has increased funding for Pell Grants, which are the primary form of financial aid for U.S. college students.

The Obama Administration has also highlighted student loan reform as a cornerstone of the presidentís stance on education. In 2010, Obama signed into law a student loan reform act, capping loan interest rates at 10 percent for new borrowers beginning in 2014. The legislation, furthermore, allows existing debt to be forgiven after 20 years.

Romney: During his tenure as the Massachusetts governor, Mitt Romney created the John and Abigail Adams Scholarship, which offered college tuition waivers at Massachusetts public colleges or universities to academically successful high school students.

As the Republican presidential nominee, Romney has said he will work to simplify the financial aid system, while promoting cooperation with private industry to open up new opportunities for students.

Health care

Obama: Health care reform has been a key focus of the Obama Administration since 2009, when the landmark Patient Protection and Affordable Care Act was introduced in Congress, before being formally signed into law in early 2010.

Considered to be the most significant health care overhaul in 50 years, the ACA, more commonly known as Obamacare, has since begun to enact a series of changes to the nationís current health care system that will go into effect through 2014.

The ACA, which was upheld in the Supreme Court earlier this year, is aimed at making health care more affordable and standardizing the guaranteed coverage of U.S. health insurance provider according to the Obama campaign website.

The former governor has vowed to repeal the Affordable Care Act if elected to the presidency, stating he would support an effort allowing each state to craft individualized health care plans, according to the Romney campaign website.Romney has also expressed his desire to limit federal requirements on private insurance as well as on Medicaid coverage

Women's issues

Obama: The president currently leads among women voters, an Oct. 23 Gallup poll revealed, in which Obama held 54-46 percent advantage over Romney.

According to his campaign website, Obama aims to end discrimination against women by healthcare providers. It furthermore states that, under Obamacare, women will be given access to more affordable birth control as part of the laws expansion of preventative care.

Obama has also continued to voice support for Planned Parenthood, one of the largest womenís health organizations in the U.S.

Romney: Romney has stated that, if elected president, he would work to end federal funding to organizations such as Planned Parenthood. He has also said the Supreme Court should overturn Roe v. Wade, the 1973 landmark decision that ruled a womanís choice to have an abortion constitutional. According to the Romney campaign website, he believes individual states should have the ability to determine abortion laws.

Foreign policy

Obama: President Obamaís election in 2008 received a wave of support from around the world. And since then, Obama has remained a popular figure on the world stage.In 2010, the president announced an effort to prevent the proliferation of nuclear weapons, signing a nuclear arms reduction pact with Russia. The Obama campaign website states that the administration is ďmaking progress toward a world without nuclear weapons.Ē

Central to Obamaís foreign policy record has been his administrationís work in ending the war in Iraq in 2011 as well as the presidentís role in ordering a raid of al Qaeda founder, Osama bin Ladenís compound in Pakistan that same year.

Romney: The Romney campaign has built its position on foreign policy around the idea a militarily and economically strong United States. Romney has vowed to bolster defense spending and undo cuts put in place under the Obama Administration.Romney has also asserted his aim to eliminate Iranís nuclear program, while maintaining a strong alliance with Israel and a greater political presence throughout the greater Middle East.

The Republican candidate has expressed a desire to expand American economic influence through trade cooperation with other open market countries and the reinstatement of the presidentís Trade Promotion Authority, which allows to president to create international trade agreements.

Immigration

Obama:In 2008, Obama promised to reform U.S immigration policy, calling for action by the end of his first term as president.

Since then, the presidentís support for reform has largely centered around the DREAM Actóa bill introduced in 2001 that seeks to provide permanent residency to undocumented individuals living in the United States who came to the country as minors, have lived in the U.S. five years prior to the enactment of the law, have graduated from U.S. high schools and have no criminal record.

In June 2012, President Obama issued an executive order, granting undocumented residents under the age of 30 a two-year deferral from deportation. The order applies to immigrants who came to the United States before the age of 16, have lived in the country continuously for at least five years, are either serving in the military or are enrolled in college and pose no criminal or security threat to the U.S.

Romney:Romneyís immigration policy centers around tighter and more efficient border security, stating on his campaign website that he aims to construct a high-tech fence on the U.S. border as well as strengthening border patrol forces on the ground.Romney has also said that he would work to discourage illegal immigration by creating an employment verification system that will require employers to check that their employees are eligible to work in the U.S.

The former Massachusetts governor has confirmed he is opposed to granting amnesty for illegal immigrants living in the United States; however, he has stated he believes undocumented immigrants who were brought to the country as children should have an opportunity to become permanent residents through U.S. military service.

Economy

Obama:The Obama campaign has cited the administrationís success in creating jobs in the U.S., stating on the presidentís website that the economy has seen 31 consecutive months of job growth.

Obama passed the American Recovery and Reinvestment Act in 2009, effectively reducing taxes on working families and small businesses.

Moreover, President Obama has supported the growth of high-tech industries in the United States as well as the revival of U.S. manufacturing as a key effort in the creation of jobs. Obama also plans to create tax incentives for companies that keep jobs in the U.S., while eliminating tax breaks for companies that outsource labor.

Romney: Since declaring his candidacy in mid-2011, Romney has focused the brunt of his campaign on the need to grow the U.S. economy and reduce the federal deficit, proposing significant tax cuts for both individuals and corporations, as well as a reduction in government spending.

Romney has furthermore pledged to cut non-security federal spending by five percent, while capping spending below twenty percent of the U.S. economy, according to his campaign website.

Romney has also said he would work to open new trade marks through the restoration of the presidential Trade Promotion Authority and would pursue the creation of the Reagan Economic Zone, a trade network that would link nations committed to free trade together.